Estate Agency Software - Top 5 tips for ROI (Return on Investment)
03 December, 2013 | Technology
Many estate agents take the slow down during festive period to review, update or perhaps change their estate agency software systems.
At Resource Techniques we believe that agency software should not simply be a cost off the bottom line but should actually be a revenue generator, to this end we are always offering our clients advise and ideas on maximising revenue making features - Listed below are our top five most popular ‘Return On Investment’ (ROI) ideas -
1) Win more instructions with an efficient valuation management and structured follow up mechanism
A good system for valuation (market appraisal) management is critical to ensure nothing is left to chance. Good software systems allow users to list valuations that are still prospects as well as setting reminders for follow up. Each valuation should have a follow up reminder set so that calls are made as agreed and not forgotten, better communication will improve your conversion rate.
2) Convert more applicants to vendors - By improving the quality of your media
Photography, brochures, interactive mapping and floor plans are all visually rich assets and an absolute must for every property. Buyers and perhaps more importantly potential vendors, buy with their eyes so ensure that every property is presented as sharp as they can be - Photographs are large, crisp and well taken, floor plans are uploaded ideally by individual floor, mapping is clear with local amenities highlighted, each property has a beautiful set of full sales particulars and a PDF version has been uploaded to your website. This quality approach and attention to detail will wow your applicant/ potential vendor and ensure that you will be on their short list of agents when they come to sell.
3) Retain more instructions with a systematic approach to viewing follow up
Perhaps the most common compliant levelled at estate agents by their clients is the lack of communication following a viewing. It’s easy for the inefficient agent to hide behind ‘not being able to contact the viewer’ excuse, but this simply doesn’t sit well with the anxious seller… Viewing management software has been around for a long time and modern software systems are specially designed to ensure that viewing appointment follow ups are managed, reminders are set and communication to the viewer and vendor is never forgotten. Happy vendor, more instructions are retained.
4) Good data in - Good data out - Convert more applicants to vendors
I am always surprised when I ask if an agent can produce a list of local applicants with a property to sell, you would imagine that this would be a primary consideration but is often overlooked. With good agency software this is a simple process, it just requires an identifier setting on each appropriate applicant and the ability to match and list this type of applicant separately. This then enables you to introduce a ‘potential vendor canvassing system’, which is simply a set of emails or letters that are sent to these applicants as well as a systemised process of call reminders. Great communication will demonstrate your commitment and desire to sell their property and your marketing ability.
5) Engage more buyers and sellers - using HTML mailers
Using modern forms of communication is essential for any progressive business and whilst social networks are great methods of engaging clients the humble email is often overlooked or seen as being ‘old tech’. Email is still the primary method of communication for almost all businesses and should not be ignored. That said, we are not simply talking about going to Outlook, writing an email and perhaps sending to your address book, this is in fact a huge no, no! As your email provider will soon suspend your account or you will be seen as a spammer for being in breach of regulations. Today email marketing is a science, and professional bulk email distributors have a wealth of knowledge and experience to ensure their clients do not fall foul of the strict regulations surrounding this type of marketing. Good estate agency software systems have built in HTML mailer programs that send bulk graphically based emails on behalf of their estate agency clients. Parenting themselves to their potential vendors as professional modern businesses that understand modern communication and marketing methods, who are more likely to ask these agents to sell their property.